Vagit Alekperov Net Worth

Vagit Alekperov has an estimated net worth of $29.5 billion, according to Forbes Real-Time Billionaires, Vagit Alekperov profile (figures as of October 20, 2026). That is up from $20.7 billion in 2019.

Vagit Alekperov is a Russian businessman in the energy industry. He began as a worker on a Caspian Sea oil rig, then moved into senior roles in the Soviet oil system. In 1990, he became a deputy minister overseeing the oil industry. That role placed him near the center of major industry decisions as the Soviet system was changing and new company structures were taking shape across the sector.

His wealth story is closely tied to Lukoil. In 1991, he set up the company by combining large ministry-controlled oil fields. In April 1993, Lukoil became a joint-stock company, and he became its president and chairman of the board. He remained president from 1993 until 2022. Forbes said his net worth was $29.5 billion on its real-time billionaires tracker as of October 20, 2026.

How Vagit Alekperov made his money

Alekperov built his fortune mainly through oil. He moved from field work into government, then into corporate leadership as the industry was being reorganized. His biggest business asset has been Lukoil, the company he created in 1991. Forbes places him in the Energy industry and ties his wealth to oil. That makes his long connection to Lukoil the main reason he became one of Russia’s richest business figures.

His ownership in Lukoil has been the key part of that picture. Forbes says he owns about 30% of the company, which it describes as Russia’s largest independent oil company. Earlier milestones show how that stake grew. By 2002, he owned 10.4%. In May 2008, he bought 11.13 million shares, or 1.3%, raising his stake to 20.4% and making him the company’s largest shareholder. He stepped down as president in April 2022.

How Forbes' estimate changed

Forbes has shown large swings in Alekperov’s fortune over time. It estimated his wealth at $20.7 billion in 2019, then $15.2 billion in 2020. In 2021, the figure climbed to $24.9 billion before falling to $10.5 billion in 2022. Forbes then estimated him at $20.5 billion in 2023 and $28.6 billion in 2024. Those changes show how closely his wealth has moved with the value of his oil holdings.

The rise continued in the next Forbes updates. It put him at $28.7 billion in 2025 and $29.5 billion in 2026. Forbes also showed $29.5 billion on its real-time billionaires tracker in October 2026. Beyond oil, he has also had other interests. He wrote Oil of Russia: Past, Present and Future, and he opened the International Numismatic Club in Moscow, where his collection of old coins is exhibited.